Equity-Linked: In repricing mode

Asia’s equity-linked market finally sprang back into life in 2014, with volumes at a level not seen since 2010. The comeback saw little in terms of structural innovation, as issuers stuck to tried and tested formulae. But that was not enough to stop some deals falling sharply in secondary, meaning there is likely to be a repricing of the market heading into 2015, writes Rashmi Kumar.